Active Listing  ·  120 days on market

1500 Buffalo Gap Rd

Austin, TX 78734
$3,500,000
3 Bed 3 Bath 3,399 sqft $1,030/sqft Built 2010 0.65 acres 3-Car Garage Pool Waterfront Buffalo Gap

Perched along the shores of Lake Travis, this exceptional Dick Clark-designed residence offers a rare blend of architectural significance and premier waterfront living. Located at 1500 Buffalo Gap, the home sits in a deep water cove within a no-wake zone, providing calm waters, added privacy, and ideal conditions for year-round enjoyment.

Designed to capture its breathtaking surroundings, the 3-bedroom, 3.5-bathroom layout features expansive windows framing sweeping 180-degree lake views. The west-facing rear orientation delivers spectacular sunsets over the water, creating a stunning backdrop for both daily living and entertaining. Clean lines, curated materials, and intentional design elements throughout reflect a modern yet timeless aesthetic.

The open-concept living, dining, and kitchen areas flow seamlessly to multiple outdoor spaces, where a resort-style setting awaits. Enjoy a private pool, spa, and fire pit, all positioned to take full advantage of the panoramic views and serene setting.

A private tram provides convenient access from the home to the water’s edge. The boat dock is well-equipped with a boat lift and three jet ski ramps, offering effortless access to everything Lake Travis has to offer.

Despite its peaceful, tucked-away setting, the property is just minutes from the amenities of Lakeway and Bee Cave, with convenient access to shopping, dining, and daily essentials, as well as a manageable drive to downtown Austin.

A rare opportunity to own a one-of-a-kind lakefront property where design, setting, and lifestyle come together.

At $1,030/sqft, this home is priced 163% above the Austin active market average of $391/sqft, reflecting premium positioning, typically tied to finishes, lot, location, or view. View Austin market report →

Location

1500 Buffalo Gap Rd, Austin, TX 78734

Property Details

Price $3,500,000
Status Active Listing
Beds 3
Full Baths 3
Half Baths ,
Living Area 3,399 sqft
Lot Size 0.65 acres (28,314 sqft)
Year Built 2010
Garage 3 spaces
Stories ,
Type Residential · Single Family Residence
Subdivision Buffalo Gap
County Travis
Zip Code 78734
$/sqft $1,030/sqft
Days on Market ,
HOA None / verify with agent
Annual Tax Est. $25,567
Pool Yes
Waterfront Yes
New Construction ,
MLS # ACT224933589
List Date April 6, 2026
Elementary School Lake Travis
Middle School Hudson Bend
High School Lake Travis
School District ,

Luke Allen (TREC #788149) has deep knowledge of Austin and surrounding markets. Whether you're buying, selling, or just researching comparable sales, reach out for a no-pressure conversation.

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Price History

How This Ask Has Moved

Original list price versus what this home is asking today. Straight from the ACTRIS MLS feed, no interpretation.

Original ask · April 6, 2026 $4,000,000
Previous ask $3,750,000
Current ask $3,500,000
Reduced $500,000 (-12.5%) from original ask

Source: ACTRIS MLS. Price change timestamp reflects the most recent adjustment on record; the feed does not expose intermediate steps between the original ask and today's ask.

Similar Homes on the Market in Austin

Comparable Listings Right Now

Homes currently for sale in Austin with similar bedroom count, size, and price range, giving you real-time context for how this property's asking price compares to the active market.

AddressList Price$/sqftBeds/BathsSqftDOMListed
4703 Laguna Ln None
Logsdon Roy & E C
$3,500,000 $1,556 3 bd / 2 ba 2,250 sqft , 2025-06-30
13800 LONE RIDER Trl
MEADOWFOX ESTATES
$3,500,000 $879 3 bd / 3 ba 3,983 sqft , 2026-05-15
3216 Tarryhollow Dr
West Park Place Amd
$3,500,000 $801 3 bd / 4 ba 4,372 sqft , 2026-07-07
6705 Elfland Dr
Rivercrest Add Sec 02
$3,495,000 $1,109 4 bd / 5 ba 3,151 sqft , 2026-05-06
3310 Westhill Dr
West Park Add
$3,495,000 $1,092 4 bd / 4 ba 3,201 sqft , 2026-05-08

Source: ACTRIS MLS, live listings. Similar by ±1 bed, ±35% price, ±35% sqft. Contact Luke for a formal comparative market analysis.

Investment Analysis

Rental Income Potential

The numbers below use conservative Austin-market assumptions. They are estimates, not a guarantee. Actual rents vary by condition, timing, and management. Read our full Austin rental property guide →

Est. Monthly Rent
$16,800/mo
0.48% rule · conservative Austin est.
Gross Yield
5.76%
Annual rent ÷ purchase price
Cap Rate (est.)
3.46%
NOI after 40% vacancy + expenses
Down Payment
$700,000
20% conventional investment loan

Monthly Cash Flow Breakdown (20% down · 7.25% rate)

Estimated Gross Rent+$16,800
Principal + Interest−$19,101
Property Tax (~2.1% TX avg)−$6,125
Insurance (~0.5%)−$1,458
Est. Monthly Cash Flow $-9,884

At current rates and prices, many Austin luxury properties run neutral or slightly negative on pure cash flow, appreciation and equity paydown are the primary return drivers. BRRRR and off-market acquisitions can improve day-one cash flow. Learn about the BRRRR method in Austin →

Commute & Employment

Major Employers Near Austin, TX

Austin sits within commuting range of Austin's major tech, manufacturing, and corporate campuses. Approximate drive times from this area:

Tesla Gigafactory 15-25 min E
Apple Campus (Domain) 20-30 min N
Google / Meta / Indeed 10-15 min downtown
Dell Medical School / UT Austin 10-20 min
Samsung Austin Semiconductor 25 min N

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